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Roth conversions are taxable as ordinary income the year the conversion is made. I would suggest only converting an amount that will not push you into a higher tax bracket. If your tax bracket will be lower once you retire, that might be the time to ...(more)
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Roth IRAs are not taxed at all (as long as you are over 59 1/2 yrs old & have had the account open for more than 5 years. Withdrawals from your 401(k) will be taxed at the same rate as ordinary income tax (no penalties as long as you are over 59 ...(more)
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There are many types of loans out there - each are utilized for a specific purpose and are based on different aspects of your life (personal credit score, collateral (an asset like a home, car, or investment account)). The different types are: Open-Ended ...(more)
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The company address is listed as 160 Pacific Avenue, Suite200, San Francisco CA 94111, I would call them on 415.875.1000 or go to the website www.norcalwaste.com. You will need to find out who controls the ESOP on behalf of the company.
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This will depend on the plan type as there are restrictions placed on the different types of plan. Investopedia back in December 2015 posted an article stating "The majority of companies offer some sort of matching contribution for an average of 2.7% ...(more)
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You would need to contact the retirement company (Plan Sponsor) who runs the 401K. They can provide you with the statement of account showing all the investments and their value. Some offer online portals others will mail you the statement
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You will need to contact the plan sponsor. Their name should be at the top of the statement. You can contact them directly and discuss the options available. There will be a penalty to pay depending upon your age in addition to income tax. I would discuss ...(more)
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At the age of 70.5 you will be required to take out your (RMD)Required Minimum Distribution. The RMD is as it says the minimum distribution. The RMD is taxable as income for the year you receive it and each year after that. Taking the funds out and placing ...(more)
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Hari, You do have a lot options on how to handle your retirement savings. Are you currently working? Do you have a plan with your current employer? The investment choices and if you are wanting to contribute more should be the driving factors in your ...(more)
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Hey Hari, an IRA is an investment bucket, like a 401K plan. However, you can do anything in an IRA. You have limited choices in a 401K. To roll over a 401K, contact the HR department of your previous employer and have the check put into an IRA with ...(more)
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Have the 2 that you no longer participate in transferred directly to the one you are currently participating in. Your Human Resourced Dept. can help you with this process. If you are not actively participating in any of them, you can open an IRA and have ...(more)
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One of the options you have with an old 401k is to roll it into your new 401k plan with your new company. In order to accomplish this you will have to call your old 401k company and ask them for the proper forms for you to fill out. Your new company's ...(more)
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Best to open an IRA account and than Roll-Over 401K into that account. Otherwise will be a 10% penalty for withdrawal prior to 59 1/2 plus all will be added to your income for this year. Taxed as income.
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Call the company's Benefits Dept or HR Dept to get the phone number for the 401k company they use (if you don't already have the phone number). Call the number and the 401k company should be able to give you the information you are requesting after asking ...(more)
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The short answer is no, you won't be able to share the funds without incurring taxes and penalties. Since you are the sole beneficiary you are the only person to which the funds in the account can be distributed without taxes and penalties.
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